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Suppose Allied Manufacturing Company decides to put its new product on the market with a big television and advertising campaign. At the same time, the company finds out that its major competitor, Bates Manufacturing, also has decided to launch a big advertising campaign for a similar product. The payoff matrix shows the increased sales (in millions) for Allied, as well as the decreased sales for Bates. Find the optimumn strategy for Allied Manufacturing and the value of the game. Bales TV. Radio 1.4 -0.9 -0.5 0.5 Alled T.V Radio Allied should use television with probability 23 and radio with probability 23 (Type integers r simplified fractions.) The value of the game represents increased sales of $ (Round to the nearest dollar as needed.) The value of the game is (Type an integer or a simplified fraction.) Enter your answer in each of the answer boxes.

Expert Answer

Radio 1.6 Alied T-V -0.g 7 Radio -0.5 0.4 1-x let Alued use TV with Probablu prob. 2-x x let Alied…View the full answer

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